05.17.2024
Uncertainty with 45z tax credit may affect Q1 2025 biofuel contracts
The expiring BTC provides a one dollar per gallon blenders credit up front with an additional 30 to 40 cents of credit to producers on the backend. Crimson...
Sources reported two trades on wheat midds today, indicating an increase in the price range for Minneapolis and steady levels for Kansas City. Market participants observed a slight bounce as Thanksgiving week approaches with reduced run times.
CME grain pricing showed a negative trend today. December corn decreased by $0.075, falling to $4.70/bu. December wheat fell by $0.115, dropping to $5.60/bu. January soybeans shifted down, with a decrease of $0.0475 and settling at $13.85/bu. Additionally, December soymeal prices lowered by $4.40, reaching $469.20/st. The primary factor behind today’s market activity was the rainy forecast in Brazil, resulting in a decline in grain prices across the board. Despite positive projections for the USDA’s upcoming export data and a record-breaking U.S. crush last month, the soybean market still faced a slight setback.
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